CDW (NASDAQ:CDW) Price Target Raised to $201.00

CDW (NASDAQ:CDW - Get Free Report) had its price target raised by stock analysts at Morgan Stanley from $193.00 to $201.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the information technology services provider's stock. Morgan Stanley's price target points to a potential upside of 4.92% from the company's previous close.

CDW has been the subject of a number of other reports. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $0.45 during mid-day trading on Thursday, reaching $191.57. The company had a trading volume of 1,266,310 shares, compared to its average volume of 1,447,773. CDW has a one year low of $168.43 and a one year high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. The company's 50-day moving average price is $183.86 and its 200-day moving average price is $201.96. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities research analysts anticipate that CDW will post 9.35 EPS for the current fiscal year.

CDW announced that its board has approved a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW in the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. increased its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after buying an additional 3,567 shares during the period. Czech National Bank lifted its position in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock valued at $5,029,000 after buying an additional 1,685 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW during the 3rd quarter valued at approximately $12,761,000. 93.15% of the stock is currently owned by institutional investors.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.